A private equity consortium led by CVC Capital Partner and an Abu Dhabi Investment Authority (ADIA) subsidiary, has made a revised bid for the UK-based Hargreaves Lansdown valuing it at £5.4 billion ($6.9 billion).

The private equity group includes Nordic Capital and Platinum Ivy, a unit of Abu Dhabi sovereign wealth fund.

The British online investment platform’s board will unanimously support the revised offer at the proposed price of 1,140 pence per share, Bloomberg reported, citing a company statement. 

The offer also includes an additional 30 pence per share related to its 2024 final dividend.

The consortium had initially approached Hargreaves Lansdown's board with an offer of £4.7 billion, equivalent to 985 pence per share, on April 26. This initial offer was subsequently increased to 1,074 pence per share by late April.

Hargreaves Lansdown, the largest platform in the UK for retail investors, serves over 1.8 million customers and has £150 billion in assets under management.

(Editing by Seban Scaria seban.scaria@lseg.com)